NEW Taxpayers can report aggregate digital asset gains and losses under fresh legislation floated by the House Ways and Means Committee. It's expected to drop 7 bills ahead of a crypto tax hearing next week. Topics include mining/staking/donations. news.bloombergtax.com/daily-tax-re...

Cryptic Crypto: Bessent said "Let's get CLARITY done by the 4th of July and then we move on," to crypto tax. Rep. Max Miller said he'd love that but needed help "with some of those individuals" to move the CLARITY Act "I've been on the phone with them this week," Bessent said

NEW: Countries should abandon digital services taxes and pursue a multilateral approach to the digital economy or risk US-led trade or tax retaliation, according to a bipartisan House resolution from Reps. Ron Estes and Suzan DelBene buff.ly/MEAP1TM

Bessent on 'anti-weaponization' fund and Trump audit immunity: “President Trump is a great American who has endured over 10 years of harassment and weaponization from all levels of government...No American should be targeted for political reasons.” buff.ly/G1kBZkI

Treasury Secretary Scott Bessent dodged most questions related to the $1.8 billion “anti-weaponization” fund and immunity from audits for President Donald Trump. But said he didn’t have knowledge in advance that Trump would file a lawsuit against the IRS. buff.ly/FoMjaBl

“I need it dead, dead,“ said Sen. John Curtis. ICYMI - Some Senate Republicans are criticizing an agreement giving President Trump audit immunity, something that's gotten renewed attention after the White House abandoned an “anti-weaponization” fund. news.bloombergtax.com/daily-tax-re...

NEW: US officials are continuing with an agreement that bars the government from probing past tax filings from President Donald Trump and his businesses. buff.ly/nZaGfS8

NEW: Chuck Grassley and Steve Daines sent a letter to the Treasury calling for the agency to crack down on tax cheats abusing the conservation easement deduction. buff.ly/UKFNs6K

NEW: The Trump administration intends to scrap a controversial $1.8 billion legal fund for victims of alleged government “weaponization”... A person familiar didn't give details on whether it would affect a settlement between Trump and the IRS buff.ly/7uERO3P

Democrats have reintroduced bills to rein in legal tax avoidance strategies used by wealthy Americans, including tax breaks for certain trusts. The tax-planning industry is pushing back, with some arguing that existing regulations are sufficient. buff.ly/vs3uJ1U

When Republicans cleared the 2025 tax law, they praised it as “The Big Beautiful Bill Act.” But as midterms approach, they’ve pivoted: Republicans say referring to it as the “working families tax cuts” is helpful to remind voters of certain provisions. news.bloombergtax.com/daily-tax-re...

New - Rep. Mike Thompson called for a markup on his bill that would tax any distribution received from the Trump $1.8 billion fund at 100% during remarks at the committee hearing on benefits of the 2025 tax-and-spending law.

“Reconciliation is being pushed beyond, I think, whatever anybody thought in the budget process that reconciliation could be used for,” Sen. Ron Johnson (R-Wis.) said on how the process has changed over time. buff.ly/3YZShCJ

SCOOP: Bipartisan duo unveils their crypto tax bill after months of iterating drafts of the legislation. Steven Horsford and Max Miller unveiled the bill that makes some changes from earlier versions. Including calling on Treasury to study de minimis threshold instead of setting one.

NEW: Democrats asked a court to block the settlement between IRS and President Donald Trump over a leak of his tax information during his first term, saying it lacks the bare minimum required to file a lawsuit: two opposing parties. buff.ly/vRfRlif

New: A House cryptocurrency taxation roundtable is generating momentum towards forging bipartisan legislation by year’s end, tax writers in attendance said Thursday. www.bloomberglaw.com/bloomberglaw...

Crypto: Ways and Means is talking crypto and tax behind closed doors today as a Senate panel considers landmark cryptocurrency legislation, which could give momentum to the push from lawmakers seeking consensus on a tax framework. news.bloombergtax.com/daily-tax-re...

NEW: The IRS is offering a new settlement to taxpayers who took illegitimate conservation easement deductions. The settlement offer is the latest attempt to combat syndicated conservation easements cases, which have led to a Tax Court backlog. buff.ly/FNQd0hr

New: Mike Johnson just walked into the weekly GOP Senate luncheon as Secret Service Director Sean Curran walked out.

President Donald Trump urged New York Mayor Zohran Mamdani to do more to satisfy Citadel Founder Ken Griffin, saying that it’s “not recoverable” for the city to lose business figures like him. news.bloombergtax.com/daily-tax-re...

Sen. Tommy Tuberville stands next to a floor chart that reads "Assimilate or go home," during a Senate floor speech. | C-SPAN.org | C-SPAN.org www.c-span.org/congress/?ch...

Sen. John Cornyn said he could now support a temporary federal gas tax holiday to bring down gas prices hours after President Donald Trump said he wanted to suspend the gas tax. He'd previously been skeptical of the idea, @maconatkinson writes. buff.ly/cwqlGT8

Members Only: House Ways and Means Committee is set to hold a closed-door meeting to discuss cryptocurrency taxation on Thursday, according to three people familiar with the panel’s plans news.bloombergtax.com/daily-tax-re...

Career idea: Allan Tinker, the 84-year-old publisher of the Sheridan County newspaper, has been running it herself for 5 years — she writes articles, takes photos, sells ads, tracks subscriptions and even works as her own janitor. Now she plans to retire.

NEW: GOP lawmakers overcame Democrats’ opposition to advance a funding bill to the that proposes cuts to the IRS, Securities and Exchange Commission, and District of Columbia, while providing a slight increase to the GSA buildings fund. news.bloombergtax.com/daily-tax-re...

Paper Checks: At least 2 million taxpayers, many expecting refund checks, instead got letters from the IRS that said they put incorrect or omitted bank account information on their return. That's meant weeks of waiting for some, who can least afford it buff.ly/fA6D9S3

NEW: Sen. Elizabeth Warren slammed proposed IRS rules scrapping reporting requirements for complex partnerships, saying in a letter that it neutralizes one of the few remaining tools the agency has to identify abusive partnership transactions. buff.ly/MOctm5v

NEW: Senate Democrats, led by Sen. Elizabeth Warren, sound the alarm on proposed IRS rules that drop reporting on complex partnerships. The move could strip away a key tool to catch abusive transactions, they write to Treasury officials

NEW: An energy company that claimed $370 million in alternative fuel tax credits for burning the liquid natural gas in its tankers is getting questions from Finance ranker Ron Wyden who called the credit a “novel and highly questionable tax position." news.bloombergtax.com/daily-tax-re...

NEW: Republicans released their funding proposal for agencies that include Treasury/IRS, GSA, DC, shaving a $1 billion from current funding. The legislation calls for $10.2 billion for IRS ~9% cut from fy 2026, and $792 million for DC, a 9.8% cut. buff.ly/KjdGZpz

NEW Senators are introducing legislation that would provide tens of billions of dollars funding to the IRS, undoing a series of clawbacks. buff.ly/zfzKbtD

Taxpayers with tip and overtime income were more likely to know about the GOP’s 2025 tax-and-spending law and more likely to file their taxes early, a sign of potential enthusiasm about the law’s new breaks, a new Bipartisan Policy Center survey found. buff.ly/0NAUPJp

New from me: Tax cut proposals from high-profile Democrats come as voters express affordability concerns and after many Democrats embraced President Donald Trump’s campaign proposals-turned-policies of tax breaks for tips and overtime buff.ly/3vY7tyP

On NASA’s Moon Mission, the Biggest Headache Has Been the Toilet buff.ly/einKmY8

NEW: Trump's budget request includes a $1.4 billion cut to IRS, which represents almost all of its proposed $1.5 billion reduction to Treasury funding. buff.ly/BqlUFWr

Plants r cool: Over time, the cherry trees planted close together around the basin will at times work together to provide nutrients to the least healthy trees. “That grove of individual trees is going to become one superorganism,” he said.

New from ME: Republicans’ go-to tool to move major recent tax legislation through Congress is an expedited process that allows budget-related bills to pass on a party-line vote, but now lawmakers are eyeing it for other priorities. buff.ly/8ZyYn4K

The son of Sen. Jim Justice is fighting a $21.4 million dollar tax bill, alleging the IRS wrongly repealed refunds stemming from coal mining losses and amended returns claimed on several of the family’s business entities. news.bloombergtax.com/daily-tax-re...

NEW: A House Ways and Means subcommittee scheduled a field hearing on Tuesday, April 14, in Sarasota, Florida, according to three sources familiar with the panel’s plans. buff.ly/u40xRsu

SCOOP: Rep. Ron Estes (R-Kan.) is introducing legislation that would repeal the adjusted taxable income limitation that excludes some global income of US companies. The bill has about a dozen GOP cosponsors. buff.ly/xf1GnKl

ICYMI: A bill aimed at strengthening the IRS whistleblower program sailed through Wednesday’s House Ways and Means Committee markup with no opposition. news.bloombergtax.com/daily-tax-re...

GOP Sen. Rick Scott is the latest public figure to sue Booz Allen Hamilton Inc. for the recovery of inflicted damages caused by the company and its former IRS contractor who leaked thousands of private tax returns to the New York Times and ProPublica. buff.ly/g046tFI

Sen. John Kennedy stands in front of a patriotic floor chart while discussing the SAVE Act voting bill being considered on the Senate floor.

Last year in D.C., rejected tags ranged from “DEI” and “ELONSUX” to “THXDOGE” and “SH1TBOX.”

Middle-class tax cuts, paid for with millionaire levies, should be part of future Dems' tax plans, Chris Van Hollen says. It's representative of ideas irking progressives questioning if new revenue should instead be used for easing child poverty, job losses or housing costs. buff.ly/vQbgSMp

The White House is “ignoring or evading” requirements for Senate-confirmed leadership at the IRS, Senate Democrats wrote in a new letter. buff.ly/o6hurZ7

LDA news: Excited to lead my first #NICAR26 session today on LobbyR, an R package I developed that turns federal lobbying disclosures into structured data. It’s a lot easier with than using the site! Check it out on CRAN: cran.r-project.org/package=lobbyR schedules.ire.org/nicar-2026/#...

NEW: DC taxpayers should file their taxes as if the city’s tax code deviations from federal law are in effect, the DC CFO says. But litigation risk and other factors means he can’t report how much revenue will be raised by decoupling from the GOP tax law.

NEW: GOP senators want Treas. Sec. Scott Bessent to provide additional tax relief on capital gains without Congress. Sens. Ted Cruz and Tim Scott argue that Bessent has the authority to define cost basis, and say it would help boost housing supply. buff.ly/nXnoD3v

NEW: Senate Finance leaders released new tax administration legislation following last year's discussion draft, which has dozens of changes to tax collection procedures and administration. It keeps provisions allowing IRS to regulate tax return preparers. buff.ly/PNUxcXf